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Are You Losing Yourself In Loans?
Monday, November 21, 2016 - 3:03pm | 686Without a proper payback strategy, acquiring loans may send your credit down the drain. Bankrate suggests that reasons for debt can range from medical bills to divorce to not understanding the mechanics of cash flow and the importance of saving. Whatever the reason or combination of reasons,...
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FTC To Host Second Fintech Forum; Peer-To-Peer Payments And Crowdfunding In Focus
Thursday, August 4, 2016 - 8:33am | 316The Federal Trade Commission (FTC) announced this week it will hold its second ever FinTech Forum on October 26 and heavily focus on crowdfunding and peer-to-peer payment systems. The event will take place at the FTC's Constitution Centers offices in Washington, DC. The FTC said that these two...
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Canaccord On Online Lending: Still Too Early To Call A Bottom
Monday, July 25, 2016 - 3:11pm | 531Canaccord Genuity said online lending stocks such as LendingClub Corp (NYSE: LC) and On Deck Capital Inc (NYSE: ONDK) should see continued headwinds in the second quarter. "Investors continue to be concerned about credit risk (growing net charge-offs), investor demand for loans (especially from...
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SEC Discussion On 'Accredited Investor' Definition Could Have Major Repercussions For Startups, Crowdfunding
Tuesday, July 19, 2016 - 11:31am | 517The U.S. Securities and Exchange Commission is meeting Tuesday to discuss potential changes to the definition of an “accredited investor.” While this type of legal nuance may seem boring, it could have major implications on startups and peer-to-peer lenders like LendingClub Corp...
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Fintech Companies Picking Up Investors Fleeing LendingClub
Saturday, June 25, 2016 - 4:42pm | 444After LendingClub Corp (NYSE: LC) discovered $22 million in loans were sold that didn’t meet buyer requirements during an internal review, the CEO and founder (who was complicit) was forced to resign, and the company has been the subject of heightened scrutiny. Market Response Many market...
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After LendingClub's Internal Control Issues Made A Splash, SoFi Tests The Waters
Friday, June 17, 2016 - 10:23am | 285Just a month after the LendingClub Corp (NYSE: LC) fiasco resulted in the termination of its CEO, the Wall Street Journal reported another online lender Social Finance Inc., or SoFi, is pitching potential investors to buy $380 million of securities backed by its unsecured consumer loans. The...
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LendingClub Loan Demand Still Lagging?
Wednesday, June 15, 2016 - 1:46pm | 290In a weekly report to investors, LendingClub Corp(NYSE: LC) revealed a substantial increase in the purchasing of loans on its platform. Weekly Sales Numbers, Blunder And Revision The Wall Street Journal reported recently the lender’s revision of weekly numbers that failed to fully reflect...
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Post LendingClub, Other Online Lenders Under NY Regulatory Radar
Thursday, May 26, 2016 - 11:01am | 352New York State's financial regulator recently initiated an investigation into LendingClub Corp (NYSE: LC) and is now eyeing activities of other online lenders. Of particular concern is whether these peer-to-peer lenders should be allowed to conduct business in New York, Reuters reported, citing a...
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Is LendingClub Ruining Fintech's Future?
Saturday, May 21, 2016 - 4:28pm | 278Peer-to-peer lending was supposed to be a major theme in how individuals borrow money, while also presenting a compelling investment case to investors. However, the recent woes at LendingClub Corp (NYSE: LC) may have ultimately killed the relatively new segment's future following the sudden...
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TechCrunch: Lending Club's Selloff A 'Perfect Storm'
Thursday, March 3, 2016 - 11:26am | 741Despite a business volume that has multiplied to twice its size in the last 12 months, LendingClub Corp (NYSE: LC) is down more than 16.5 percent year-to-date. Even more puzzling is the positive net income the company has experienced and the year-over-year picture, with the stock down almost 54...